Financial Awareness Quiz 69 –

Que. 1

As per the Union Budget 2017, defence sector has got a _____% hike.

1.

6.7

2.

6.2

3.

6.3

4.

6.4

5.

6.9

Solution

Answer: India's defence budget received a boost of 6.2 percent in the Budget 2017 speech delivered by Union Finance Minister Arun Jaitley. The defence outlay is pegged at just over 2.74 lakh crore. The increase in the total defence outlay is down from the increase of about 11 percent last year. The Budget 2016 allocation was 10.5 percent over the allocation made for 2015-16.

Solution

Answer: The Indian Policy Think Tank, NITI Aayog together with Department of Industrial Policy & Promotion (DIPP) and Confederation of Indian Industry (CII)\has launched a first of its kind online portal, India Innovation Index in India to rank the states on the basis of innovation. The Index has been developed by the Indian sides in consultation with the World Economic Forum, the World Intellectual Property Organization, Cornell University, OECD, UNIDO, ILO, UNESCO, ITU and others.

HSBC has estimated the GDP growth rate of India at _____% for 2017-18.

1.

7.7

2.

7.1

3.

7.2

4.

7.4

5.

7.9

Solution

Answer: HSBC has estimated the GDP growth rate of India at 7.1 percent for the year 2017-18 which is up from the 6.3 percent in the year 2016-17. The main reason for this increase is cited to sufficient remonetization by April end, thus boosting the consumption level in the country to normal. Besides, the schemes announced in Budget 2017-18 are also seen to play major role in the growth rate. Besides, the investment is projected to remain weak within a range of 7.5-8 percent.

NABARD on February 2 sanctioned a loan amount of Rs. _____ crore to Haryana to undertake drinking water project.

1.

157

2.

155

3.

159

4.

154

5.

152

Solution

Answer: National Bank for Agriculture and Rural Development (NABARD) sanctioned a loan amount of Rs. 157 crore to the Government of Haryana to undertake drinking water project. Under the project, the government would undertake drinking water supply scheme in 84 villages of districts Palwal and Faridabad.

Solution

Answer: The Government of India has signed a $201.50 million credit agreement with the World Bank on February 1, 2017 to improve the quality and equity of engineering education across several states in India. The agreement was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India and Junaid Ahmad, Country Director, World Bank India, on behalf of the World Bank. The agreement signed was for the third phase of the Technical Education Quality Improvement Project (TEQIP III).

Which airlines company has been honoured at the Asia One Awards in Singapore?

1.

IndiGo

2.

GoAir

3.

Air India

4.

SpiceJet

5.

Vistara

Solution

Answer: Gurgaon based airline, SpiceJet made record by winning awards in three prime categories at the Asia One Awards held in Singapore. he low-cost airline was honoured as the ‘Asia’s Greatest Brands – 2016’ at the function. The selection process was supervised by Price Waterhouse Coopers. Among others, Chairman and Managing Director of SpiceJet, Mr. Ajay Singh, was honored with the title of the ‘Global Asian of the year’, 2016.

a positive and a negative value to set-off and partially or entirely cancel each other out

2.

collateral that the holder of a financial instrument has to deposit with a counterparty

3.

a financial institution that provides clearing and settlement services for financial and commodities derivatives and securities transactions

4.

a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument

5.

where results of a particular action, or series of actions, are forecast in advance (or intended)

Solution

Answer: Netting means to allow a positive and a negative value to set-off and partially or entirely cancel each other out. Netting decreases credit exposure and reduces both operational and settlement risk and operational costs.

Solution

Answer: Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne in Australia. They were first issued as currency during 1988 (coinciding with Australia's bicentennial year). Polymer banknotes are banknotes made from a polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available in paper banknotes, including the use of metameric inks. Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement.